Hyundai Creta EV is set to be Launched Soon

Hyundaisss Hyundai Motor Co. to launch Creta EV in India next year, making it the first electric vehicle to be produced at its Indian plant. India is the world’s third-largest automobile market.

Hyundai Motor Co. has announced plans to introduce an electric version of the compact SUV Creta in India in January next year. This will mark the first electric vehicle to be manufactured at its plant in India, the world’s third-largest automobile market.

The launch of the Creta EV is part of Hyundai’s strategy to enhance its SUV lineup customized for the Indian market. The goal is to increase the company’s combined annual output to 1 million units by 2030.

Hyundai also aims to introduce four other electric vehicle models in the South Asian market by 2030, despite revising its global vehicle sales targets for the same year by 6%.

The Creta was launched in India in July 2015. It was designed with big families in mind, so it has extra space in the back seat compared to other SUVs.Additionally, it boasts a higher bumper height to accommodate the country’s challenging road conditions and comes equipped with an indoor air purifier.

The Creta made a strong debut in India, selling 40,888 units in its first year and earning the title of “Car of the Year” in 2016.

Hyundai’s Expansion in the Indian Market

Hyundai made a strong entry into the Indian market with the successful launch of the three-row SUV Alcazar in 2021 and the light compact SUV Exter in 2024. The Exter was a standout performer, earning the title of car of the year in 2024 in India, with over 47,000 units sold within the first six years of its launch.

Hyundai’s lineup has seen significant expansion, with the addition of two compact SUVs – Venue and Tucson – and the introduction of its first all-electric crossover, the IONIQ 5. The company now boasts a total of six SUVs in its lineup, which includes the compact hatchback Santro and the hatchback i10.

Hyundai’s focus on SUVs in India is in stark contrast to Maruti Suzuki’s strategy that revolves around light cars. Despite Maruti Suzuki being the leading car brand in India in terms of sales volume, its market share has seen a decline from 51.4% in 2018 to 40.8% in the present year.

Hyundai’s Production and Sales in India

In 2023, Hyundai sold 602,111 cars in India, with SUVs accounting for more than half of the sales, 360,854 units. The Creta, Alcazar, and Exter emerged as the top performers in the SUV segment.

According to the Society of Indian Automobile Manufacturers, in the first three quarters of this year, Hyundai’s sales in India reached 459,411 units, an increase of 4,629 units compared to the same period last year.

During the January-June period, Hyundai achieved its highest-ever car deliveries in India and is projected to sell 605,000 units in 2024.

Hyundai’s strategic move to acquire a plant in Pune from General Motors Co. in 2023 aims to bolster its presence in India. The building is currently undergoing renovations to transform it into a modern factory capable of producing over 200,000 units annually.

With the completion of the Pune facility next year, Hyundai’s annual production capacity will reach 1 million units.

Hyundai’s Future Plans in India

The company’s ambitious plan includes the establishment of 485 EV charging stations across India by 2030. Furthermore, Hyundai and its affiliate Kia Corp. are collaborating to develop lithium-ion phosphate (LFP) batteries for mass production by Indian battery maker Exide Energy Solutions Ltd., which will power their first EVs specifically designed for the Indian market.

In a recent development, Hyundai Motor’s Indian unit successfully raised $3.3 billion through an initial public offering, with its shares priced at the upper end of the proposed range. The company will debut on the Indian stock market on October 22.